Gold extended losses on Monday as investors booked profits from a recent rally to above $950 an ounce, but the metal's allure as a safe-haven asset remained as uncertainty continues to cloud the global economic outlook. Gold jumped to $951.80 on February 12, its strongest since July, on the back of an increase in demand from investors seeking alternative investment to equities and other conventional assets. Spot gold was trading at $937.00 as of 0649 GMT, down 0.3 percent from New York's notional close on Friday, when it fell 0.8 percent. "Given the U.S. holiday today, long liquidation is in progress," said Shuji Sugata, manager at Mitsubishi Corp Futures and Securities' research team. "Speculators have now halted buying, the non-ETF sector, such as the jewellery industry, has lost its appetite at the current high level, and gold has a psychological barrier of $950," he added. Markets are closed in the United States for the President's Day holiday. The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings hit a record 985.86 tonnes as of February 13, up 15.29 tonnes, or 1.6 percent, from the previous day. The holdings are up more than 200 tonnes this year.

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